PeachStone Capital

         Atlanta's Hard Money Lender
             When timing is everything, we close!

 

 

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  Hard Money Loans
   Purchase and renovate
   Non-owner occupied
   Single family homes
   Up to 65% ARV
   Interest only
   No prepayment penalty
   First mortgage lien
   Fast approval/funding

 

 

  PeachStone Capital
  specializes in providing
  short term "hard money"
  loans to real estate
  investors located in
  Atlanta, Georgia.

 

  Give us a call at
  770.379.1099 to
  discuss your next
  rehab project.

 

  Apply for a hard money
  loan (click here)

 

 


FAQs

 

How fast can you close? Do you lend money for repairs?
What is your maximum loan to value (LTV)? Do you provide proof of funds letters?
What is the minimum credit score you will accept? Can anyone live in the house during the course of the loan?
What are your loan origination fees? Interest rates? Do I need to have a property under contract before applying for a loan?
What types of properties will you lend on? Do you require a down payment?
In what areas do you lend? Can the points and closing costs be rolled into the loan?
What is your minimum loan amount? Are there any upfront fees? Application fees? Inspection fees?
Is an appraisal required?  Will you accept a third party appraisal? Can we close with my attorney or do you require we close with your attorney?
Do you charge prepayment penalties? How much are closing costs?

 

How fast can you close?

We typical close our loans in 7 days or less.  return to top of pagetop

 

 

What is your maximum loan to value (LTV)?

We can lend up to 65% of the after repaired value (ARV) of the property  return to top of pagetop

 

 

What is the minimum credit score you will accept? 

We do not have a minimum credit score, we work with investors with any credit. However, credit score and financial strength will factor into the maximum LTV, down payment, points, and interest rate.  return to top of pagetop

 

 

What are your loan origination fees? Interest rates? 

Our loan origination fees equal 5% of the loan amount (minimum $3,000) and our interest rate is 15%   return to top of pagetop

 

 

What types of properties will you lend on?

We currently only lend on single family houses in the metro Atlanta, GA area. We do not lend on multifamily homes, commercial properties, raw land, or new construction.

Our ideal house has 3+ bedrooms, 2+ bathrooms, and is located in a well maintained neighborhood.

 

We generally won't consider small houses (i.e. less than 1,000 sf), houses with 1 bathroom (unless the rehab includes adding a 2nd bathroom, houses located on busy streets, houses abutting industrial/commercial areas.

 

In a nutshell, we try to avoid problem houses/neighborhoods that are hard to sell and typically sell for less. Put yourself in your buyer's shoes, would you want to live in a small 1 bath house on a busy commercial street with a view of a recycling plant or the Federal prison?  return to top of pagetop

 

 

In what areas do you lend?

We currently lend in the Atlanta, Georgia area including the following counties: Cobb, DeKalb, Fulton, Gwinnett, Forsyth, Hall, and Cherokee. We are currently not funding any loans in Clayton County. return to top of pagetop

 

 

What is your minimum loan amount?

Our minimum loan amount is usually $30,000.00.   We occasionally fund smaller loans, however our minimum loan origination fee is $3,000.00 or 5 points, whichever is greater. return to top of pagetop

 

 

Is an appraisal required?  Will you accept a third party appraisal?

An appraisal is not required.  We do not accept third party appraisals.    

 

We determine the after repaired value (ARV) of the subject property using a competitive market analysis or comparative market analysis (CMA).  The CMA will use sold listings from the FMLS/GAMLS to determine the estimated after repaired value (ARV).  The comps used in the CMA will be from similar properties in terms of size, age, condition, construction, etc. within a radius of 0.5 miles from the subject property that have sold within the previous 6 months.  return to top of pagetop

 

 

Do you charge prepayment penalties?

No.  Your loan may be paid at any time with not prepayment penalty.  The faster you rehab a property and sell or refinance it, the more profit you make.  return to top of pagetop

 

 

Do you lend money for repairs/improvements?

Yes we lend money for repairs/improvements provided the total loan amount does not exceed 65% of the after repaired value (ARV) of the property.  Repair money will be held in escrow and will be released in draws as you complete the renovations on your property.  We will not provide any draw advances.  The borrower is responsible for paying their contractors and material men.  return to top of pagetop

 

 

Do you provide proof of funds letters?

Yes, provided you have been pre-approved.  return to top of pagetop

 

 

Can anyone live in the house during the course of the loan?

No, we only lend on non-owner occupied properties.  return to top of pagetop

 

 

Do I need to have a property under contract before applying for a loan?

We can pre-approve you for our loan program prior to placing a property under contract.  return to top of pagetop 

 

 

Do you require a down payment?

Depending upon the buyer's credit and financial strength, we can finance up to 95% of the total project cost (purchase, repairs/improvements, and closing costs) up to 65% of the after repaired value (ARV) of the property.  Minimum borrower cash investment is 5% of the total project cost (minimum $5,000 down payment) return to top of pagetop 

 

 

Can the points, closing costs, and interest be rolled into the loan?

No, the borrower must pay their own points and closing costs (i.e. seller paid closing costs are not permitted).  Interest payments are made monthly beginning on the 1st day of each month. return to top of pagetop 

 

 

Are there any upfront fees? Application fees? Inspection fees?

We do not require any upfront fees, application fees, or inspection fees prior to approving your loan.  Once we have approved your loan, we will instruct our attorney (Harlan and Associates, LLC) to order a title search on the property. The borrower will be required to pay for the title search in advance. return to top of pagetop 

 

 

Can we close with my attorney or do you require we close with your attorney?

All loans will be closed with our attorney (Harlan and Associates, LLC).  return to top of pagetop 

 

How much are closing costs?

Closings costs tend to run about 7% of the loan amount.  Actual closings costs will vary depending upon purchase price, loan amount, prorated property taxes, hazard insurance coverage, etc.  You can estimate your closing costs using our closing cost estimator spreadsheet (click here for Excel spreadsheet), (click here for pdf versionreturn to top of pagetop 

 

 

 

 

 

 

 

   

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PeachStone Capital, Inc.

Atlanta's Hard Money Lender

When timing is everything, we close!

phone: 770.379.1099

email: wade (at) AtlantaHardMoneyLoans.com


We provide hard money loans to purchase and renovate
non-owner occupied single family homes in the Atlanta Georgia area.



The material on this web site covers a variety of topics on commercial hard money real estate loans and is for informational purposes only. This information is inherently limited in scope, may change without notice, and does not contain all of the applicable terms, conditions, limitations and exclusions of the products and services described herein.

©Copyright 2005-2009 PeachStone Capital, Inc. - Atlanta Hard Money Loans